We have entered a time in which over ten years of seniority does not even equate to job security. Rather than wait for their walking papers, some people are choosing to start up their own business. When entering self employment, some do not anticipate the amount of work record keeping entails. There are a number of benefits to hiring a professional bookkeeper that can take care of this component of running your own business.
In order to save money, many new business owners will try to do the bookkeeping themselves. It’s difficult to gain new clients when you are trying to balance the books, though. In fact, it can take someone who is inexperienced in bookkeeping three times as long as a professional to do the same job. Chances are the rate that someone has to pay a professional bookkeeper is less than the amount of money lost while bookkeeping instead of working. Professionals will likely not make the same number of errors as well.
Errors are serious business. They lead to audits and time spent clearing things up with the federal tax office. Hiring a professional bookkeeper allows a trained set of eyes to catch mistakes before the books are finalized. Of course, a business will have an accountant come tax time, but the fewer mistakes the accountant has to fix the better, as good accounting does not come cheap. If a professional bookkeeper has already caught the errors, the less time the accountant spends on your books, and the less money leaves your pocket.
Business revenue is not the only thing that suffers when attempting to keep records personally. Personal time is lost. A successful work day involves not only working, but finding new clients as well. Days on which up to ten hours is spent working, there may not even be time for bookkeeping much less time to unwind. Books can get behind and personal relationships can even deteriorate. Hiring a professional bookkeeper allows someone else to take care of the books while you are busy working. Once you are finished with work, you can go hang out with your friends and family knowing that your business dealings are taken care of.
A professional bookkeeper is a sound investment, especially for someone unfamiliar with record keeping. A bookkeeper knows what he is doing, saving the owner time and stress. The less time spent on balancing books, the more time is spent on making money.
